127
127
Dec 27, 2012
12/12
by
CNNW
tv
eye 127
favorite 0
quote 0
these are people that pay no income tax. so my job is not to worry about those people. >> he acts as a character witness against himself in this video. he compounded every stereotype in this campaign. in that one fumble clip. >> the only thing we can do here is play ne gingrich. we have to play the skewed media. four out of five fumbles were republican? i guess they were. >> that's just deflection. you don't want to deal with the truth here. >> busboys should not be allowed to have video cameras when way they are waiting tables. who took that? >> it was somebody in the kitchen. >> the first spot is great and how perfect could it end if mitt romney ended up getting 47% of the vote. >> exactly right. >> that was perfect. but he didn't want to be president anyway. >> and if you believe that, i gotten years of your life back for you. >> and a million dollars later he tells me that. >> well, we are are going to do this again tomorrow, but we are going to talk about the five top political viral videos of the year. tweet your sugge
these are people that pay no income tax. so my job is not to worry about those people. >> he acts as a character witness against himself in this video. he compounded every stereotype in this campaign. in that one fumble clip. >> the only thing we can do here is play ne gingrich. we have to play the skewed media. four out of five fumbles were republican? i guess they were. >> that's just deflection. you don't want to deal with the truth here. >> busboys should not be...
189
189
Dec 27, 2012
12/12
by
CNNW
tv
eye 189
favorite 0
quote 0
but perhaps, democrats think if they can add an extension of the estate tax cut or put tax extenders in there they can lure some republicans. but that is part of the negotiation that's going to go on behind the scenes between democrats and one by one republican after republican. >> the senate democrats say they think it's best to wait until the very last minute. why is that? >> this is going to make voters and viewers so happy i'm sure. the reason is they know the reality. and they have seen it time and time again, congress acts when they are up against a deadline and not before. we are close to it. but it won't be until they are facing the cliff and teetering off the edge that the republicans will say fine, uncle, i'll go for this even though i don't think it's the right thing. for the most part. sources think that the most likely scenario is going off the cliff. the republican is because, again, this is not going to make voters or viewers happy is because politically it's easier for members of congress to vote for a tax cut which is what they are voting for than what right now they
but perhaps, democrats think if they can add an extension of the estate tax cut or put tax extenders in there they can lure some republicans. but that is part of the negotiation that's going to go on behind the scenes between democrats and one by one republican after republican. >> the senate democrats say they think it's best to wait until the very last minute. why is that? >> this is going to make voters and viewers so happy i'm sure. the reason is they know the reality. and they...
337
337
Dec 30, 2012
12/12
by
CNNW
tv
eye 337
favorite 0
quote 0
an increase in the estate tax. in case those discussions break down, the president asked harry reid to prepare a separate bill to put on the floor of the senate that would raise taxes on households that earn $250,000 or more. now, that's really a democratic proposal and you could expect republicans to block it, so, rather than thinking of that as a stop gap measure, probably think of it as a political measure to shift the responsibility for failure on to republicans just before the nation hits the hour of wreckening. alison? >> thanks. >>> lawmakers could vote as early as today and when it happens, you can watch live coverage right here on cnn. >>> the president will continue to plead his case for a deal today. he's making his first appearance on a sunday talk show in more than three years. he'll be on nbc's "meet the press." he'll call for an immediately vote for congress on a scale-back plan that would only extend middle class tax breaks if the negotiations fail. >>> other news now, second degree murder as a hate
an increase in the estate tax. in case those discussions break down, the president asked harry reid to prepare a separate bill to put on the floor of the senate that would raise taxes on households that earn $250,000 or more. now, that's really a democratic proposal and you could expect republicans to block it, so, rather than thinking of that as a stop gap measure, probably think of it as a political measure to shift the responsibility for failure on to republicans just before the nation hits...
221
221
Dec 29, 2012
12/12
by
CNNW
tv
eye 221
favorite 0
quote 0
president of americans for tax reform. norquist's pledge, signed by almost all republicans in congress, forbids signatories from raising taxes ever, under any circumstances. things come to a head in the summer of 2011. republicans demand the government reduce its deficit as a condition for raising the nation's debt ceiling. without a deal, the u.s. would lose its ability to borrow money. both democrats and republicans deploy scorched earth tactics that nearly shut down the government and ultimately cost america its aaa credit rating for the first time in history. >>> but in a last minnesota minute compromise, both sides agree to $1 trillion in spending cuts up front, and another $1.2 trillion in cuts to be decided by a special congressional super committee. but a poison pill was attached. if the super committee can't reach a deal, automatic across the board cuts known as the sequester would go into effect, starting january 2013. at the exact moment when those bush tax cuts extended for two years, if you remember, would exp
president of americans for tax reform. norquist's pledge, signed by almost all republicans in congress, forbids signatories from raising taxes ever, under any circumstances. things come to a head in the summer of 2011. republicans demand the government reduce its deficit as a condition for raising the nation's debt ceiling. without a deal, the u.s. would lose its ability to borrow money. both democrats and republicans deploy scorched earth tactics that nearly shut down the government and...
389
389
Dec 31, 2012
12/12
by
CNNW
tv
eye 389
favorite 0
quote 0
childcare and dependent tax credit. earned income tax credit. and the american opportunity tax credit, part of the stimulus the president pushed through in 2009. that's a tax credit for people sending kids through college. these would refer to earlier tax credit levels. that would be money out of people's pockets. a lot of people who say this say it definitely hurts lower income families more than anything else. that said, i just spoke to senator johnny isakson, a republican, and he's sounding optimistic. >> i think we stand close to a deal. first of all, i'm not sure i have the inside information, but i do believe that the revenue issue is no longer a question. the question is making sure that any new revenues go toward debt spending reduction and deficit relief rather than new spending. it's deficits that got us into this problem. it's only reducing the deficit that's will get us out of this problem. >> the key there is it's my best belief that they've reached an agreement on revenues, that means on this issue of raising taxes on the wealthies
childcare and dependent tax credit. earned income tax credit. and the american opportunity tax credit, part of the stimulus the president pushed through in 2009. that's a tax credit for people sending kids through college. these would refer to earlier tax credit levels. that would be money out of people's pockets. a lot of people who say this say it definitely hurts lower income families more than anything else. that said, i just spoke to senator johnny isakson, a republican, and he's sounding...
157
157
Dec 28, 2012
12/12
by
CNNW
tv
eye 157
favorite 0
quote 0
to pay more taxes. i don't think they're eager to pay more taxes for one important reason, they just don't think the money is going to get used well. people just do not trust washington to spend their money effectively and i think if they had greater trust in washington, there would not be so much resistance to this, so the irony of this, don, is that this spectacle that we're seeing right now in washington is contributing to the problem and people see this, they're even more reluctant to pay taxes or to put up with the tax hike. so it is almost like it is a self-perpetuating problem. >> rick newman, thank you, sir. >> sure thing, don. >>> in other news, he's remembered as a liberator, not a conqueror. tributes pouring in for general norman schwarzkopf. he died yesterday in tampa, florida. he became a household name in the '90s when he led coalition forces in first gulf war. he once told larry king he hated war. president obama called schwarzkopf's death the loss of an american original. norman schwarzk
to pay more taxes. i don't think they're eager to pay more taxes for one important reason, they just don't think the money is going to get used well. people just do not trust washington to spend their money effectively and i think if they had greater trust in washington, there would not be so much resistance to this, so the irony of this, don, is that this spectacle that we're seeing right now in washington is contributing to the problem and people see this, they're even more reluctant to pay...
350
350
Dec 27, 2012
12/12
by
CNNW
tv
eye 350
favorite 0
quote 2
all the bush tax cuts, all of them will expire with taxes going up an average of $1600 per household. the payroll tax holiday also expires. that means the tax burden will go up an average $z700 per household extra. extended unemployment benefits expire so collection shrinks from 93 weeks to 26 weeks. the medicare doc fix expires, that means a 27% cut in physician payments. the alternative minimum tax expands to 27 million more americans and obama care taxes hit, meaning a 0.9% jump in the medicare payroll tax for those earning $200,000 or more. but what about the house of representatives? they left town after republicans failed to bring a vote on their own plan b last week. ohio republican congressman steve latourette seems kpas rat -- kpas rated about all of this. you're on your way out and you repudiated the norquist pledge which you signed back in 1994. tell me why? >> well, i repudiated it because, listen, it's not 1994 anymore. the world has moved on. we have the euro, we've had september 11th, a lot of things have happened. and quite frankly, this calls for a big solution. it ca
all the bush tax cuts, all of them will expire with taxes going up an average of $1600 per household. the payroll tax holiday also expires. that means the tax burden will go up an average $z700 per household extra. extended unemployment benefits expire so collection shrinks from 93 weeks to 26 weeks. the medicare doc fix expires, that means a 27% cut in physician payments. the alternative minimum tax expands to 27 million more americans and obama care taxes hit, meaning a 0.9% jump in the...
182
182
Dec 28, 2012
12/12
by
CNNW
tv
eye 182
favorite 0
quote 0
, instead just voting to reinstate a tax cut, that then it sort of president obama's tax cut so he gets credit for that. >> do you have any sense of what will happen around that table today? who called the meeting if there's an agenda or are they going to sit around and stare at each other until one of them blinks? >> we don't have a sense. i'm sure that we will be getting a sense. this is supposed to take place at 3:00 p.m. at the white house. the vice president, president and four top congressional leaders. we don't know what will be said. i think we will likely hear from some camps afterwards. >> if you are wondering what a trip down the fiscal cliff might mean for your paycheck, for your 401(k), look no further than yesterday's dow. at the opening bell, a dive of more than 1%. investors finding little hope for the fiscal cliff compromise on capitol hill. when word came down two sides might be meeting. reversal of fortune. the dow rebounding for a while before finishing slightly lower. >>> a nation this morning remembering the american general credited with orchestrating one of the m
, instead just voting to reinstate a tax cut, that then it sort of president obama's tax cut so he gets credit for that. >> do you have any sense of what will happen around that table today? who called the meeting if there's an agenda or are they going to sit around and stare at each other until one of them blinks? >> we don't have a sense. i'm sure that we will be getting a sense. this is supposed to take place at 3:00 p.m. at the white house. the vice president, president and four...
246
246
Dec 26, 2012
12/12
by
CNNW
tv
eye 246
favorite 0
quote 0
it will hurt every taxpayer, the largest tax increase in history. it will affect everybody, and anyone who is watching who thinks, oh this isn't going to impact me, you will fin out d o will, and we know the problem is a lot of spending. not that we're not taxing people more, we're just spending too much. we hope that the president understands that as for as republicans are concerned, we're willing to negotiate and have a civil conversation, but also he's got to bring in some spending cuts and tax reform, because americans want tax reform and we don't want to hurt the economy, and, look there, are not enough millionaires in the united states to tax them all to be able to spend our way out of this problem. so let's -- let's give up a little bit -- each side can concede a little. and i think we can fin middle ground. i'm optimistic. >> we had your colleague nan hayworth last hour. she was expecting work to be done in the senate. the house did its best, boehner did his best, now it's up to the senate to come up with something. is that your position now
it will hurt every taxpayer, the largest tax increase in history. it will affect everybody, and anyone who is watching who thinks, oh this isn't going to impact me, you will fin out d o will, and we know the problem is a lot of spending. not that we're not taxing people more, we're just spending too much. we hope that the president understands that as for as republicans are concerned, we're willing to negotiate and have a civil conversation, but also he's got to bring in some spending cuts and...
366
366
Dec 27, 2012
12/12
by
CNNW
tv
eye 366
favorite 0
quote 0
capital gains taxes increasing from 15% to 20% pre-bush tax levels. then estate taxes going as high as 55% with the $1 million exemption and currently the 35% with a $5 million exemption so we're definitely going to see a big change coming forward. >> so when will we feel it? >> well we won't feel it until 2014, when the majority of it, when the individuals file their 2013 taxes. the payroll tax cut was for individuals earning $50,000 a year, might fill a lessen in their total check in january, the majority not until 2014. >> so is there any way you can avoid higher taxes, any tricks? >> well essentially what individuals are doing is almost like a reverse philosophy, where previously individuals wanted to take as many deductions as they are right now to reduce their taxable base but individuals what they're realizing income levels if they can figure out how to accelerate their income now and take the deductions next year, for instance, using, making their charitable deductions, if you haven't made them already, make them next year and take that deduct
capital gains taxes increasing from 15% to 20% pre-bush tax levels. then estate taxes going as high as 55% with the $1 million exemption and currently the 35% with a $5 million exemption so we're definitely going to see a big change coming forward. >> so when will we feel it? >> well we won't feel it until 2014, when the majority of it, when the individuals file their 2013 taxes. the payroll tax cut was for individuals earning $50,000 a year, might fill a lessen in their total check...
214
214
Dec 27, 2012
12/12
by
CNNW
tv
eye 214
favorite 0
quote 0
the president's tax plan he campaigned on for five years which is to let the tax plan expire for households making less than $250,000. he would add unemployment insurance. the thinking here is he would potentially also add extending the estate tax cut. the estate tax has been at a relatively low level. it expires also at the ipd of the year. but, you know, this is all you know, to'ing and fro'ing right now to see if it's possible to pass anything to keep most americans' taxes where they are before the end of the year when everybody's tax go up. >> we heard from senator reid earlier today. they were dealing, in his words, with a dictatorship. are we expected to hear from him or any of the players from the hill in terms of trying to move this forward, whether it's publicly, in the public arena or privately? >> we are. we're told we should expect to hear from the senate republican leader mitch mcconnell. the senate is in and he will likely take to the floor we're told and give a status report from his perspective. what we're talking about right now in the senate is whether or not the democrats
the president's tax plan he campaigned on for five years which is to let the tax plan expire for households making less than $250,000. he would add unemployment insurance. the thinking here is he would potentially also add extending the estate tax cut. the estate tax has been at a relatively low level. it expires also at the ipd of the year. but, you know, this is all you know, to'ing and fro'ing right now to see if it's possible to pass anything to keep most americans' taxes where they are...
213
213
Dec 26, 2012
12/12
by
CNNW
tv
eye 213
favorite 0
quote 0
to cut taxes. a much easier vote to cast for republicans as well as some democrats. as for the president, is he nhe scheduled to leave his family tonight, come back to washington tomorrow morning, in the hopes of helping his fellow democrats try to find enough republicans to pass his plan. but of course this goes without saying that was a plan that most if not all republicans campaigned very strongly against. >> the most likely scenario is actually did go off the cliff now. ryan liza is our correspondent from washington. you look at this and we're hearing echos of the past. the republican speaker from the house of representatives said, and i have it here somewhere, i don't want to be critical of john, meaning john boehner, but if you don't ever bring something to the floor without the votes. so this is what happened last thursday night where he brought this bill to the floor, his plan b, and it went nowhere. was that a major miscalculation for him? >> it was. look, denny was the speakner nea differ
to cut taxes. a much easier vote to cast for republicans as well as some democrats. as for the president, is he nhe scheduled to leave his family tonight, come back to washington tomorrow morning, in the hopes of helping his fellow democrats try to find enough republicans to pass his plan. but of course this goes without saying that was a plan that most if not all republicans campaigned very strongly against. >> the most likely scenario is actually did go off the cliff now. ryan liza is...
318
318
Dec 29, 2012
12/12
by
CNNW
tv
eye 318
favorite 0
quote 0
that's an extra $900 before taxes. currently members of congress make $174,000 a year except for leaders who make a little more. the last time there was a pay raise was 2009. >>> there is one thing the senate has agreed on, getting aid to victims of superstorm sandy. by a 61-33 vote the chamber passed a measure offering $60 billion in help. it heads to the house which must approve the bill by thursday or else the process to consider the money has to start all over again. at least 113 people were killed when superstorm sandy hit in late october. the governors of new york and new jersey, the hardest hit states, have estimated damages at more than $78 billion. >>> and turning to weather. even though winter is just over a week old, millions of americans probably can't wait for spring to arrive. me, as well, yes. scenes like this in maine are playing out all across the country as snow is now on the ground in almost 65% of the lower 48 states. at least everybody's enjoying it together. look at this video from arkansas where
that's an extra $900 before taxes. currently members of congress make $174,000 a year except for leaders who make a little more. the last time there was a pay raise was 2009. >>> there is one thing the senate has agreed on, getting aid to victims of superstorm sandy. by a 61-33 vote the chamber passed a measure offering $60 billion in help. it heads to the house which must approve the bill by thursday or else the process to consider the money has to start all over again. at least 113...
274
274
Jan 1, 2013
01/13
by
CNNW
tv
eye 274
favorite 0
quote 0
he insists on raising taxes. it's really his intransigence that endangered the 99%. >> the president is saying he's now willing to do what the republicans asked in 2001, 2003, make the bush tax cuts permanent. he's saying yes, the democrats have agreed. they say they will be permanent. no tax increases for 99%, for people making under $450,000 a year. those will be permanent tax cuts. you support that, but because 1% are going to have to pay a little more, they're going to go from 35% to 39.6% if you're making more than $450,000 a year, you're willing to see all those millions of middle class families suffer. >> actually, if it were only that bill, just protecting the 99%, well, i want to protect 100%. i would vote for a bill that protected 99%. heck, i'd probably vote for a bill that protected 80% because i want to protect anybody from big government, but the thing is it's not just that. they're heaping on new spending. not only are they raising taxes, maybe on a small percentage of people, but a large amount of
he insists on raising taxes. it's really his intransigence that endangered the 99%. >> the president is saying he's now willing to do what the republicans asked in 2001, 2003, make the bush tax cuts permanent. he's saying yes, the democrats have agreed. they say they will be permanent. no tax increases for 99%, for people making under $450,000 a year. those will be permanent tax cuts. you support that, but because 1% are going to have to pay a little more, they're going to go from 35% to...
222
222
Dec 26, 2012
12/12
by
CNNW
tv
eye 222
favorite 0
quote 0
that's the alternative minimum tax. also the wealth tax. conceived to prevent the wealthy from paying no taxes at all through deductions. congress has failed to pass an a adjustment to keep the amt from roping in lower taxpayers. irs was expecting that to happen. if congress fails to do so, revenue officials will start a lengthy and costly process of reprogramming computers. it could be march until effective taxpayers can file. >>> an interactive map is causing outrage in one community. what do all these little red dots mean? what do they locate? and why is a new newspaper under fire? we'll explain. year-end event. so, the 5.3-liter v8 silverado can tow up to 9,600 pounds? 315 horsepower. what's that in reindeer-power? [ laughs ] [ pencil scratches ] [ male announcer ] chevy's giving more. get the best offer of the year -- 0% apr financing for 60 months plus $1,000 holiday bonus cash. plus trade up for an additional $1,000 trade-in allowance. hurry. bonus cash ends january 2nd. [ sniffs ] i took dayquil but my nose is still runny. [ male an
that's the alternative minimum tax. also the wealth tax. conceived to prevent the wealthy from paying no taxes at all through deductions. congress has failed to pass an a adjustment to keep the amt from roping in lower taxpayers. irs was expecting that to happen. if congress fails to do so, revenue officials will start a lengthy and costly process of reprogramming computers. it could be march until effective taxpayers can file. >>> an interactive map is causing outrage in one...
445
445
Jan 1, 2013
01/13
by
CNNW
tv
eye 445
favorite 0
quote 1
and compromise on the estate tax. a republican win on the estate tax. is that food enough for you to accept, even though you don't want to raise taxes? >> although, two points, the estate tax is better than going back to a million dollar exclusi exclusion, 55%, tax rate or anything above that there shouldn't be any tacks on death. it shouldn't be a taxable event. regarding theation on people making above $400,000. go back to 1993, the clinton era tax rates which the democrats want. $250,000 then taxed at 39 mt 6% is the equivalent of $398,000 tow with according to a labor statistic bureau and regular inflation. it's not that great of a deal i don't think as it goes and it's taxing and still taxing small business men and women, and i don't like that at all. >> representative gingrich, ali velshi, happy new year to you, sir. i want to talk to something that played out yesterday. you were a tough primary in the past and that was when you first signed the norquist pledge. am i right? >> that's right. absolutely. >> and grover norquist seems to have approved
and compromise on the estate tax. a republican win on the estate tax. is that food enough for you to accept, even though you don't want to raise taxes? >> although, two points, the estate tax is better than going back to a million dollar exclusi exclusion, 55%, tax rate or anything above that there shouldn't be any tacks on death. it shouldn't be a taxable event. regarding theation on people making above $400,000. go back to 1993, the clinton era tax rates which the democrats want....
201
201
Dec 31, 2012
12/12
by
CNNW
tv
eye 201
favorite 0
quote 0
the other place is the estate tax. the estate tax is scheduled to rise by quite a bit at the stroke of midnight tomorrow night. republicans want to keep it low, democrats want it to go up a little bit. there's room for compromise there. and so, you know, it's not just marginal rates that are going up, there's a series of taxes that they're going to change. the thing that could not be settled today was this change cpi. essentially a benefit cut for social security recipients. that led to a breakdown in negotiations today, because republicans wanted those benefit cuts to social security. and democrats said no way. and that was the sticking point and that's when this thing moved from the senate over to biden and mcconnell where it is and will be overnight. we're not going to know until tomorrow morning if they come up with something. >> yes, and the senate went home, obviously. here's my question. i know we're americans, we're very myopic, we like to think everything is just about us here. this isn't just about americans,
the other place is the estate tax. the estate tax is scheduled to rise by quite a bit at the stroke of midnight tomorrow night. republicans want to keep it low, democrats want it to go up a little bit. there's room for compromise there. and so, you know, it's not just marginal rates that are going up, there's a series of taxes that they're going to change. the thing that could not be settled today was this change cpi. essentially a benefit cut for social security recipients. that led to a...
399
399
Dec 27, 2012
12/12
by
CNNW
tv
eye 399
favorite 0
quote 1
big cuts in the pentagon and big tax hikes. the white house, from all indications that i've seen, they don't want that to happen. they are scared of what could happen to the markets. >> why aren't they dalg dealing with boehner? dana, be go ahead. jumpb in here. >> i think they won their negotiating power once boehner last week failed. as dana pushed out, the only thing that can get boehner is to do something. >> reporter: i think that you're right when i said that democrats don't think that the president will have much political damage. that does seem to be coming more from democrats here in congress than in the white house. democrats here in congress feel that it's a win-win for them politically. the one thing i will tell you very quickly, the pushback on this narrative that i heard from senate republican leader in the hallway. he said, do you remember who the speaker was during the hoover administration? i said, no. he said, that's my point. nobody will remember who the speaker was if ge into a recession but it's the preside
big cuts in the pentagon and big tax hikes. the white house, from all indications that i've seen, they don't want that to happen. they are scared of what could happen to the markets. >> why aren't they dalg dealing with boehner? dana, be go ahead. jumpb in here. >> i think they won their negotiating power once boehner last week failed. as dana pushed out, the only thing that can get boehner is to do something. >> reporter: i think that you're right when i said that democrats...
109
109
Jan 1, 2013
01/13
by
CNNW
tv
eye 109
favorite 0
quote 0
these tax hikes are not enough for him. that he's going to go after more tax hikes. it's going to be the same discussion. the fact is we're just ceding more and more ground and more and more jobs, by the way, that young people need. so that's one of the things where i think house republicans get it, where at least i mean the majority of our caucus gets it where we're going to stand up against this plan because it's bad for young people, bad for our future, it's bad for the rest of america too. there was a great article in "the washington times" yesterday about why this plan and why plans like this are going to absolutely hurt and bankrupt our generation. i think there's at least a core group of republicans who are actually going to defend that and try to get a real solution done. something that addresses entitlement reform, that doesn't just tax people. this is a tax bill. this just raises taxes. and that's all it's doing. and the fact of the matter is grover norquist, this just shows how little power grover has. grover is a friend and i like him. however remember wi
these tax hikes are not enough for him. that he's going to go after more tax hikes. it's going to be the same discussion. the fact is we're just ceding more and more ground and more and more jobs, by the way, that young people need. so that's one of the things where i think house republicans get it, where at least i mean the majority of our caucus gets it where we're going to stand up against this plan because it's bad for young people, bad for our future, it's bad for the rest of america too....
470
470
Dec 26, 2012
12/12
by
CNNW
tv
eye 470
favorite 0
quote 0
taxes because these are tax deferred accounts. >> okay, so probably safe to say don't touch them but how can you avoid the knee-jerk reactions when you see you're losing so much money? >> we've seen it. in 2009, the sky is falling, chicken little and everything's going wrong and we can't seem to, we want to jump out of the market. those in 2009 missed a 130% return in the market because they dived out at the bottom. we don't want to be a part of the individuals who as we want to buy, we want to buy low and sell high and that might be an old cliche but it works. what a lot of individuals are trying to do, they're doing is i want to sell, get rid of the risk and jump out because the fiscal cliff seems too much to take. this is one small blip in a long-term scheme of investment strategy. five plus years we should be looking at, not just a few months time span that's caused by political agenda. our economic agenda and fiscal house says let's not make any rash decisions and do some things that we'd look back on and say i missed a lot of good return. >> all right, thank you so much, ryan m
taxes because these are tax deferred accounts. >> okay, so probably safe to say don't touch them but how can you avoid the knee-jerk reactions when you see you're losing so much money? >> we've seen it. in 2009, the sky is falling, chicken little and everything's going wrong and we can't seem to, we want to jump out of the market. those in 2009 missed a 130% return in the market because they dived out at the bottom. we don't want to be a part of the individuals who as we want to...
167
167
Dec 27, 2012
12/12
by
CNNW
tv
eye 167
favorite 0
quote 0
that moved the tax hike needle to $400,000. no word on when the house might come back with time ticking away. democrats are hoping the scaled-back plan could get through the house, senate and white house before january 1st. sometime on december 30th, maybe even new year's eve is when they're probably going to get that deal done but let's go to jonathan allen, a senior washington correspondent for politico. the top headline on politico this morning, fiscal cliff deal increasingly unlikely. jonathan, really? >> i think there's a lot of pessimism here in washington. you've got, as you pointed out, five days left. i think the real indicator here is that none of these parties are moving off their position. the senate democrats, the house republicans, the white house. there hasn't been any reason for folks to look at what's going on and say, oh, i see where a deal could be coming together. so what you've got is what's described in economic game theory is where everyone has decided on their strategy, looked at the strategies of the oa
that moved the tax hike needle to $400,000. no word on when the house might come back with time ticking away. democrats are hoping the scaled-back plan could get through the house, senate and white house before january 1st. sometime on december 30th, maybe even new year's eve is when they're probably going to get that deal done but let's go to jonathan allen, a senior washington correspondent for politico. the top headline on politico this morning, fiscal cliff deal increasingly unlikely....
172
172
Dec 28, 2012
12/12
by
CNNW
tv
eye 172
favorite 0
quote 0
that also means a delay in tax refunds. the treasury department normally sends out about $72 million in tax refunds in january and february. that would not happen if the fiscal cliff comes. they wouldn't be able to keep up with the workload. and there would be unexpected higher taxes for most americans because remember, that's another part of the equation. so many different groups could be hit in many different ways at many times. but the bottom line is if these negotiations continue to stall and don't come through and the cliff comes, people will, indeed, feel it all over this country. >>> u.s. army general whose temper earned him the name stormin' norman has died. general norman schwarzkopf was one of the most celebrated military leaders in the post-vietnam era. he led coalition forces pushing iraq out of kuwait in 1991's "operation desert storm." the retired general died yesterday in tampa, florida, at age 78. >>> former president george h.w. bush released this statement. he says, "general schwarzkopf epitomized the duty
that also means a delay in tax refunds. the treasury department normally sends out about $72 million in tax refunds in january and february. that would not happen if the fiscal cliff comes. they wouldn't be able to keep up with the workload. and there would be unexpected higher taxes for most americans because remember, that's another part of the equation. so many different groups could be hit in many different ways at many times. but the bottom line is if these negotiations continue to stall...
75
75
Jan 1, 2013
01/13
by
CNNW
tv
eye 75
favorite 0
quote 0
lower tax rates. they're not -- if nothing happens, taxes go up $500 billion. >> okay. >> it's not as if nothing happens, taxes wouldn't go up. let's raise taxes. we're in an odd situation because -- it won't repeat because the taxes are being made permanent. the good news is we're never going to have this question raised again, these taxes are being made permanent. the alternative minimum tax, the protection against the alternative minimum tax hitting 30 million americans will also be made permanent. so there's a lot of good stuff that's being done. is it everything the taxpayers want? no. we should do what obama did two years ago. extend all of the tax cuts for everybody. >> all right, if republicans and like i said, some democrats who have signed your pledge, are watching you right now, for the moment, knowing what you know, you're giving them cover to go ahead and vote thumbs up for this deal? >> yeah, and as you know, ali, this pledge is to the people and their state. they need to be able to look
lower tax rates. they're not -- if nothing happens, taxes go up $500 billion. >> okay. >> it's not as if nothing happens, taxes wouldn't go up. let's raise taxes. we're in an odd situation because -- it won't repeat because the taxes are being made permanent. the good news is we're never going to have this question raised again, these taxes are being made permanent. the alternative minimum tax, the protection against the alternative minimum tax hitting 30 million americans will also...
304
304
Dec 28, 2012
12/12
by
CNNW
tv
eye 304
favorite 0
quote 0
do you cut taxes, do you cut spending, what do you do? >> set the fiscal cliff aside for one moment. you've done extensive research on recovery from recessions. where are we in the current recovery? what in your estimation does 2013 look like from an economic standpoint. >> fairly normal from world war ii financial crisis, housing recovers on cue five or six years later. the good news is that there's stable underlying growth. the bad news is you don't get the zoom you got out of it during the depression. >> we're in year five of a seven year process. >> more than seven years. >> last time you were here you said we were half way through regardless of who wins in 2012. the next four years would not look much better than the past four years. >> we're going to have, i don't know if not very much better than the past four but we're not going to have fantastic growth. unemployment will take many more years to feel normal, so we have many years left in the recovery but hopefully in two or three years we feel like we're moving there and not at th
do you cut taxes, do you cut spending, what do you do? >> set the fiscal cliff aside for one moment. you've done extensive research on recovery from recessions. where are we in the current recovery? what in your estimation does 2013 look like from an economic standpoint. >> fairly normal from world war ii financial crisis, housing recovers on cue five or six years later. the good news is that there's stable underlying growth. the bad news is you don't get the zoom you got out of it...
418
418
Jan 1, 2013
01/13
by
CNNW
tv
eye 418
favorite 0
quote 0
so any vote in the house will be a vote for tax cuts, not for tax hikes. that helps. john boehner needs to take this deal struck in the senate that presumably has some buy in from him if not from his rank and file, because mitch mcconnell did not negotiate this is a vacuum and this is a pretty overwe will being vote. he will take this to his conference today and see where they are at. the expectation is there are two directions this could go. either a vote on the bill or house republicans propose changes so they can amend the bill more to their liking and send it back to the senate. but i think this is expected to move along here. >> there could be amendments, one past, they could vote on amendments, could fail, and then vote on the full measure. isn't that true also? >> yeah, that is true, and the other thing is once anything goes to the floor, it's not just up to republicans, it will -- and the think the expectation all along, whatever ultimately passes the house as we saw in the senate will require democrats and republicans. >> talking to phil gingery, seemed to be
so any vote in the house will be a vote for tax cuts, not for tax hikes. that helps. john boehner needs to take this deal struck in the senate that presumably has some buy in from him if not from his rank and file, because mitch mcconnell did not negotiate this is a vacuum and this is a pretty overwe will being vote. he will take this to his conference today and see where they are at. the expectation is there are two directions this could go. either a vote on the bill or house republicans...
260
260
Jan 1, 2013
01/13
by
CNNW
tv
eye 260
favorite 0
quote 0
tell us how the payroll tax is different than the others. >> the payroll taxes come out of your paycheck automatically and used to fund social security. costs dids 120 billion for the treasury department to instead let you have a little smaller part of your paycheck goes to social security taxes and general funds used to cover the difference. you've had a little holiday. you've had a holiday for the past couple of years and that means you've been paying 4.2% toward payroll taxes. it's going back up to 6.2%. the more money you make, the more you're going to pay. let me show you exactly what it means. if you make $35,000 a year, you're going pay $700 more a year. if you make $50,000, you'll pay a thousand. everyone look for your bracket there, because what this means you're going to have a smaller paycheck. meant to be a temporary boost to the economy. and in the fiscal cliff, it is really temporary. they're not going to extend it. >> how important it is, the markets are not open today but they're going to be open tomorrow, that there is some real deal in hand from the senate side and the
tell us how the payroll tax is different than the others. >> the payroll taxes come out of your paycheck automatically and used to fund social security. costs dids 120 billion for the treasury department to instead let you have a little smaller part of your paycheck goes to social security taxes and general funds used to cover the difference. you've had a little holiday. you've had a holiday for the past couple of years and that means you've been paying 4.2% toward payroll taxes. it's...
132
132
Dec 31, 2012
12/12
by
CNNW
tv
eye 132
favorite 0
quote 0
tax hikes will kick in and other measures that won't be good for your paychecks and your wallet. we'll continue to follow that. we have our staff, correspondents, up on capitol hill following the latest. in the meantime, let's get back to our hillary clinton story. jessica yellin has traveled a lot with the former first lady and secretary of state. jess, we talked about her grueling schedule again. we're working with very limited information. we know she's being treated and what she's being treated with. we don't know exactly where this clot is. >> we don't. i do get the sense from people who are close to her that they feel she's going to be okay. but, of course, there's a lot of, you know, upset and concern because it's been some two weeks now that this woman who is constantly on the go has had such a bad case of first the flu and then a concussion and now this that she's had to be completely grounded. that's what just stuns the people around her. usually she's the one telling them to come on, keep going, she's always up and on the go and the fact that she actually is ill in thi
tax hikes will kick in and other measures that won't be good for your paychecks and your wallet. we'll continue to follow that. we have our staff, correspondents, up on capitol hill following the latest. in the meantime, let's get back to our hillary clinton story. jessica yellin has traveled a lot with the former first lady and secretary of state. jess, we talked about her grueling schedule again. we're working with very limited information. we know she's being treated and what she's being...
246
246
Dec 30, 2012
12/12
by
CNNW
tv
eye 246
favorite 0
quote 0
the alternative minimum tax. a lot of money that they're scrambling to find as they also deal with the tax issues. so it's really going to depend on what those numbers look like and boehner doesn't entirely have a sense until he has a senate proposal to try to sell to his house side. >> i just want to remind our viewers, we will join fareed zakaria, "gps" in progress as we watch the senate floor and the senate in general. for any signs of progress. there used to be the hastert rule, a majority of the majority, most republicans, in this case they're at majority, must support a bill before denny hastert would put it on the house floor. i don't get a sense that's where speaker boehner is. >> you could imagine a scenario where the house could pass an agreement that's reached in the senate, with a minority of republicans and dozens of democrats make up the difference. that would essentially be john boehner falling on his sword, diving on the grenade and giving up his speakership. you know, democrats might say this wou
the alternative minimum tax. a lot of money that they're scrambling to find as they also deal with the tax issues. so it's really going to depend on what those numbers look like and boehner doesn't entirely have a sense until he has a senate proposal to try to sell to his house side. >> i just want to remind our viewers, we will join fareed zakaria, "gps" in progress as we watch the senate floor and the senate in general. for any signs of progress. there used to be the hastert...
320
320
Dec 31, 2012
12/12
by
CNNW
tv
eye 320
favorite 0
quote 0
tax reform is fine, but not a net tax increase. what we have going forward is a -- the 2001, 2003 bush tax cuts that almost every democrat voted against. not commented on is the spectacle of the democrats calling over themselves about what a tragedy it would be to have the bush tax cuts, that they opposed and spent ten years trashing, including obama, that if they lapse that would be the end of the world. we're making progress. democrats are defending the bush tax cuts for 98% of the american people. for 100% of the american people, we'll take that 99%, 98% of movement by the democrats toward the taxpayer position. >> get to the point, grover. i know this argument. >> we don't see it in the established press very often. >> we see you on establishment press pretty often. we spoke on friday afternoon and it was on tv all weekend. the argument that your thoughts don't get out there, all i got were tweets over you being on. >> we are very big on the first amendment at cnn. >> good, look. what we need to do is extend bush era tax cuts f
tax reform is fine, but not a net tax increase. what we have going forward is a -- the 2001, 2003 bush tax cuts that almost every democrat voted against. not commented on is the spectacle of the democrats calling over themselves about what a tragedy it would be to have the bush tax cuts, that they opposed and spent ten years trashing, including obama, that if they lapse that would be the end of the world. we're making progress. democrats are defending the bush tax cuts for 98% of the american...
267
267
Jan 1, 2013
01/13
by
CNNW
tv
eye 267
favorite 0
quote 0
the estate tax will remain tax free, the first $5 million of anyone's estate will be tax free in terms of the exceptions for the individual, the cap is expected to be index to inflation, so it will increase that $5 million every year according to inflation. finally, that so called doc fix, for doctors who accept medicare patients, that will go into effect. it will continue, it will not be paid for by the affordable care act. lots to dissect as we await final word from the democrats and the republicans. i want to go back to dana bash. dana, we know reid is on board, nancy pelosi is on board. mitch mcconnell, has he definitely signed off to this deal? >> yes. he actually was an early signer of the deal. because he, of course, was the point person on the republican side. i should say, i said yes pretty definitively. behind me, you see a gaggle of reporters, and he's probably going to be mad at me for doing this, but that's mitch mcconnell's spokes person talking to people about what's going on. hopefully i won't be proven wrong, but it's hard to believe i will. mitch mcconnell wient to th
the estate tax will remain tax free, the first $5 million of anyone's estate will be tax free in terms of the exceptions for the individual, the cap is expected to be index to inflation, so it will increase that $5 million every year according to inflation. finally, that so called doc fix, for doctors who accept medicare patients, that will go into effect. it will continue, it will not be paid for by the affordable care act. lots to dissect as we await final word from the democrats and the...
366
366
Jan 1, 2013
01/13
by
CNNW
tv
eye 366
favorite 0
quote 1
they don't want to just pass mostly -- mostly tax cuts but tax increases. that is a big part of what i'm hearing is going on. the other thing we're told is that the house speaker is simply not taking a position whether he is for or against this. he's being very cautious, we're told, in this meeting, with his members. simply listening to ideas, laying out options, you know. one option that the speaker said publicly, even before we saw this senate vote, is that the house may take up the deal, may take up the bill, but then try to amend it in some way. we're waiting to see what they decide, but we should also note they're not going to decide anything out of the meeting. we're told clearly they're going to take into consideration what they hear from the members in this meeting, spend some time this afternoon discussing it inside the leadership. and then have another meeting later today to figure out how they're going it -- how they're going to move forward. and, of course, the question is whether or not there is going to be a late night vote tonight or maybe de
they don't want to just pass mostly -- mostly tax cuts but tax increases. that is a big part of what i'm hearing is going on. the other thing we're told is that the house speaker is simply not taking a position whether he is for or against this. he's being very cautious, we're told, in this meeting, with his members. simply listening to ideas, laying out options, you know. one option that the speaker said publicly, even before we saw this senate vote, is that the house may take up the deal, may...
388
388
Jan 1, 2013
01/13
by
CNNW
tv
eye 388
favorite 0
quote 0
they want tax reform. so do democrats want tax reform but they have different ideas about how to do it it. it's kicking the can down the road. there will be a lot more ahead on this. >> brianna keilar breaking it down for us at the white house. thanks for that. >>> eight senators voted against this compromised measure, but the opposition didn't fall along party lines. tom harkin, tom krarner and michael bennett all voted now. so did these five republicans. let's put the politics to the side for a minute and ask the question most of us are wondering. what does this measure mean for you and your wallet? ali velshi is crunch iing the numbers. >> good morning. the first thing is the payroll tax holiday goes away. everybody is going to get a little less in their paycheck every month. that's going to hit the economy. it's a tax holiday that you had that we're losing now. if you earn more than $400,000 as an individual or $450,000 as a household, you'll be paying higher taxes in 2013. that won't hit you yet. noth
they want tax reform. so do democrats want tax reform but they have different ideas about how to do it it. it's kicking the can down the road. there will be a lot more ahead on this. >> brianna keilar breaking it down for us at the white house. thanks for that. >>> eight senators voted against this compromised measure, but the opposition didn't fall along party lines. tom harkin, tom krarner and michael bennett all voted now. so did these five republicans. let's put the politics...
201
201
Dec 30, 2012
12/12
by
CNNW
tv
eye 201
favorite 0
quote 0
we are talking about every american's tax rates who pays taxes, talking about the extension of unemployment, the estate tax this has more elements in it than most things do i think at the end of the day, you know, in the senate now, i think the senate will come to some sort of arrangement, they will push it over here and then i think the house will be the decisive arena, a lot will depend, obviously, on what the senate agrees to >> isn't that the question what will happen in the house? i don't think we have a concern, maybe i shouldn't stay quite that way, the house seems to be the clear focus on whether or not republicans can muster the votes needed. what is going to happen? >> a lot depends on the nature of the agree weren't, remember on the speakers a plan b, he had over 200 republican votes are, it is not as if he doesn't have an awfully strong hand to play. if it's a deal that john boehner can accept, then frankly, i think it will be passed in a bipartisan manner with a very strong majority. if, on the other hand, he is either neutral or not favorable, then his chances are going to be
we are talking about every american's tax rates who pays taxes, talking about the extension of unemployment, the estate tax this has more elements in it than most things do i think at the end of the day, you know, in the senate now, i think the senate will come to some sort of arrangement, they will push it over here and then i think the house will be the decisive arena, a lot will depend, obviously, on what the senate agrees to >> isn't that the question what will happen in the house? i...
136
136
Dec 29, 2012
12/12
by
CNNW
tv
eye 136
favorite 0
quote 0
raised the capital gains tax, the top marginal tax rates, but also tax increases distract from what the country needs to do. we need to deal with our runaway government spending. the government is spending too much money. tax increases are not part of cutting the budget. tax increases are what politicians do instead of reform the government. as long as tax increases are on the table, the politicians never even think about reforming government. >> and i understand. you have been on this fight for a long time and you've been devoted to the whole idea of not seeing taxes increase anywhere. but what we're down to right now is largely a political battle over the increase in marginal tax rates based on what you earn. i understand there's a lot more to this puzzle, but on that front, because that's the one that gets most of the ink around here, whether people who earn more than $250,000 or $400,000 or $1 million should may-pay more tax. the point is that's not going to hurt the economy. that's all we're talking about. paying 4.6%, 8 points higher on your income over $250,000, empirically t
raised the capital gains tax, the top marginal tax rates, but also tax increases distract from what the country needs to do. we need to deal with our runaway government spending. the government is spending too much money. tax increases are not part of cutting the budget. tax increases are what politicians do instead of reform the government. as long as tax increases are on the table, the politicians never even think about reforming government. >> and i understand. you have been on this...
298
298
Dec 31, 2012
12/12
by
CNNW
tv
eye 298
favorite 0
quote 0
raising taxes on the middle class. he is planning his next move if the two sides can't carve out a compromise. >> pressure on congress to produce if they don't, what i've said is that in the senate we should go ahead and swrus legislation that makes sure middle class taxes stay where they are and an support or down vote. everybody should have the right to vote on that. if republicans don't like it, they can vote no. >> and everybody on the record to what they have to do. the senate won't come into session until 11:00 today. 11:00 eastern. we don't want to wake them up too early on new year's eve. it's going to he about a late night. let's speak with someone on capitol hill. republican michael burgess. a republican from texas. thank you for being up today. a lot of americans think you should be awake and probably shouldn't have too much sleep last night. pretty generally disgusted about what's been going on. give us some hope and reason not to be entirely, entirely disgusted that in 517 days of knowing this day is comin
raising taxes on the middle class. he is planning his next move if the two sides can't carve out a compromise. >> pressure on congress to produce if they don't, what i've said is that in the senate we should go ahead and swrus legislation that makes sure middle class taxes stay where they are and an support or down vote. everybody should have the right to vote on that. if republicans don't like it, they can vote no. >> and everybody on the record to what they have to do. the senate...
221
221
Jan 1, 2013
01/13
by
CNNW
tv
eye 221
favorite 0
quote 0
it's a tax defrl. when speaker pelosi and democrats were in charge, they used the word pay go constantly. in other words, is there an offsetting pay for what you do? president bush's tax cuts were not paid for. they were anticipated to be grown out of. these are not anticipated to be grown out of. cdo has said 3.967. in other words, $4 trillion will be added to the debt over ten years with this tax cut unless we do some spending cuts to help offset it. right now the president's still in a spending mood. we need to get him in a savings mood. >> i want to clarify, you said it was after the new year's and they were partying. are you suggesting that mitch mcconnell and fellow republicans in the senate were drunk when she voted on this last night? >> of course not. i was having a little fun with you, wolf. it was after midnight t was a piece of legislation intended to be passable. not necessarily to be right. and this was in fact something that joe biden found a way to get the art of the possible. send some
it's a tax defrl. when speaker pelosi and democrats were in charge, they used the word pay go constantly. in other words, is there an offsetting pay for what you do? president bush's tax cuts were not paid for. they were anticipated to be grown out of. these are not anticipated to be grown out of. cdo has said 3.967. in other words, $4 trillion will be added to the debt over ten years with this tax cut unless we do some spending cuts to help offset it. right now the president's still in a...
286
286
Dec 31, 2012
12/12
by
CNNW
tv
eye 286
favorite 0
quote 0
-- the tax issues. we are very, very close. as the president just said, the most important piece, the piece that has to be done now, is preventing the tax hikes. >> in just the last hour, the president said a deal is, quote, within sight and that he himself is willing to make the hard choices to avoid $600 billion in automatic spending cuts and tax hikes. wolf blitzer joining me now. wolf, you've been with these kinds of negotiations before. when you look at this thing, do you think the can is just getting kicked down the road? in some ways it seems we're only getting a down payment here if that on the bigger issue of deficit reduction. >> and you're absolutely right, joe. the president himself acknowledged that he wanted a big deal, a big picture deal if you will, couldn't achieve that with the leadership in congress. so they're going to do it in stages. they're going to do it in various parts. they are kicking some very sensitive issues down the road over the next few months. the republicans are happy
-- the tax issues. we are very, very close. as the president just said, the most important piece, the piece that has to be done now, is preventing the tax hikes. >> in just the last hour, the president said a deal is, quote, within sight and that he himself is willing to make the hard choices to avoid $600 billion in automatic spending cuts and tax hikes. wolf blitzer joining me now. wolf, you've been with these kinds of negotiations before. when you look at this thing, do you think the...
288
288
Dec 29, 2012
12/12
by
CNNW
tv
eye 288
favorite 0
quote 0
and don't forget, the payroll tax goes up, too. >> so taking out for social security taxes -- no one is talking about it. that says to me, those are going back up anyway. those are about a thousand in cost -- so let me ask you, there is the actual what will happen on january first? and it doesn't sound like people will have to worry about their taxes, most people. but what about the psychological impact? haven't we already seen it in christmas buying? haven't we already seen it in hiring? wouldn't we continue to see it -- you know, won't consumer confidence take a hit? won't businesses still say i don't know, i don't know what is happening. >> already has, candy, you have seen it in this year's christmas shopping season was lackluster, at best. i talk to businesses who say we're not hiring right now. we're just cancelling a lot of the plans to make new expenditures expenditures expenditure, this is not a good way to run a railroad. and the economy has already taken a hit because of all of this turmoil in washington. and as i said, i think you know look, i'm a republican. but i think
and don't forget, the payroll tax goes up, too. >> so taking out for social security taxes -- no one is talking about it. that says to me, those are going back up anyway. those are about a thousand in cost -- so let me ask you, there is the actual what will happen on january first? and it doesn't sound like people will have to worry about their taxes, most people. but what about the psychological impact? haven't we already seen it in christmas buying? haven't we already seen it in hiring?...
658
658
Dec 30, 2012
12/12
by
CNNW
tv
eye 658
favorite 0
quote 0
the tax policy center has a tax calculator. so it allows you to estimate how your family could be affected. josh levs is here in atlanta breaking down the different scenarios. the only thing you can't say is i'm going to start a drinking game. don't say kick the can down the road. jifs not going to use that phrase. i have been covering this at cnn.com and doing everything i can to avoid saying things like that. the figure a lot of people know if you know any figure is $2,000 because president obama says it a lot. the average family will end up spending $2,000 more if the fiscal cliff is not averted. let me show you something. you can find out how it would impact you directly by using this. there's a lot of numbers you have to plug in to make sense of it. obviously it can't be exact, it can't be precise, it can't predict the future, but i want to show you some examples we have pulled out. let's go to the graphic here that has a few of the examples we're showing you here. it would take, for example, this scenario, married with no
the tax policy center has a tax calculator. so it allows you to estimate how your family could be affected. josh levs is here in atlanta breaking down the different scenarios. the only thing you can't say is i'm going to start a drinking game. don't say kick the can down the road. jifs not going to use that phrase. i have been covering this at cnn.com and doing everything i can to avoid saying things like that. the figure a lot of people know if you know any figure is $2,000 because president...
192
192
Dec 30, 2012
12/12
by
CNNW
tv
eye 192
favorite 0
quote 0
the minimum tax and the estate tax. that is everything that would hit average americans. the fiscal cliff, it may be bigger than people realize. don? >> lisa, thank you very much. a lot of us would like to tell lawmakers what we think of them. here is your chance right now, go to our ireport.com and start a message and we will play them to congress on air. it's murder charges now for a new york city woman who we are told has confessed to pushing a man in the subway track to his death. these details are new and we are still gathering information. there is david, he is in new york. david, what has this woman confessed? >> she seems to have confessed to a hate crime, don, she has been charged with second degree murder in the case of this man who was pushed off the subway platform in queens on thursday. and the queens district attorney's office released this statement. it was a quote from her saying i pushed a muslim off the tracks, ever since they put down the twin towers i've been beating them up. this adds a twist to the case that riled new york. this is the second inciden
the minimum tax and the estate tax. that is everything that would hit average americans. the fiscal cliff, it may be bigger than people realize. don? >> lisa, thank you very much. a lot of us would like to tell lawmakers what we think of them. here is your chance right now, go to our ireport.com and start a message and we will play them to congress on air. it's murder charges now for a new york city woman who we are told has confessed to pushing a man in the subway track to his death....
151
151
Dec 31, 2012
12/12
by
CNNW
tv
eye 151
favorite 0
quote 0
the tax policy center, it's called the tax calculator. it allows you to plug in all sorts of information about yourself and family, to find out how your taxes would change based on all sorts of factors. now, it is just an estimate. it can't predict the future. but there are some really good ways to find out how the fiscal cliff would hit you at home. what we've done, we've taken a couple generic examples. let's start off with this one right here. this is a married couple with one child in college. if this couple has an income around $39,000 tax bill goes up $2,700. look at that right there. that's a big chunk of money out of that income. if they're making about $84,000. they'll be paying another $3,000 in taxes. and if this couple has high income, more than $137,000 they're looking at another $8,000 in taxes. that's just one set of generic examples there. there are all sorts of things along the way you can look at. depends what the deducks would be. let's take a look at this one here. if you're looking at a single person with no children,
the tax policy center, it's called the tax calculator. it allows you to plug in all sorts of information about yourself and family, to find out how your taxes would change based on all sorts of factors. now, it is just an estimate. it can't predict the future. but there are some really good ways to find out how the fiscal cliff would hit you at home. what we've done, we've taken a couple generic examples. let's start off with this one right here. this is a married couple with one child in...
103
103
Dec 29, 2012
12/12
by
CNNW
tv
eye 103
favorite 0
quote 0
>> i think raising the capital gains tax, raising the dividend tax, raising the estate tax, raising taxes on small businesses, is a disaster for the economy, it's too fragile. >> that's not true at all. all the research shows that actually the economic activity is not that sensitive to tax rates at the top of the income distribution -- >> that's not true, it's the opposite. >> i'm sorry -- >>> the economy's highly sensitive, that's why countries around the world have been cutting their tax rates. >> we grew faster when we had higher tax rates. >> let's just do it another reality check on this. which is that, whether we go over the cliff or have a scaled-down deal, we've got two things looming, a debt ceiling in probably two months which republicans will no doubt use as leverage. we still don't have a grand bargain that deals with deficit and debt by taking on tax reform and entitlement reform. what rational reason, stephen, first you, should we have that that other kick the can to another situation we're about to go off a cliff would produce any different result from a new congress? >> i'
>> i think raising the capital gains tax, raising the dividend tax, raising the estate tax, raising taxes on small businesses, is a disaster for the economy, it's too fragile. >> that's not true at all. all the research shows that actually the economic activity is not that sensitive to tax rates at the top of the income distribution -- >> that's not true, it's the opposite. >> i'm sorry -- >>> the economy's highly sensitive, that's why countries around the world...
135
135
Dec 27, 2012
12/12
by
CNNW
tv
eye 135
favorite 0
quote 0
if you make $100,000, your taxes will go up by $4600. the come bination of tax hikes d deep cuts could end up like k like this. ore the cliff in a free fall. whisky and cigarettes in hand. tonight, we've got the view from both sides of the aisle. democrat from arizona and republican from wisconsin. earlier, i spoke to the arizona congressman and asked him what he would support a scaled down deal that the president pushed for on friday. >> yeah, i would. i think that's realistic. i think we're at a point after, after the implosion by boehner and the party not to be able to come to an agreement with president obama. that we're talking about a short fix relative to a new congress dealing with the complexity and a comprehensive package of long-term, of fiscal policy in this country. that's what many of us have asked for, that everything has been to be on the table. that it has to be an honest and open discussion. >> you just said that everything should be on the table. the president said that everyone needs to give a little bit to reach a gr
if you make $100,000, your taxes will go up by $4600. the come bination of tax hikes d deep cuts could end up like k like this. ore the cliff in a free fall. whisky and cigarettes in hand. tonight, we've got the view from both sides of the aisle. democrat from arizona and republican from wisconsin. earlier, i spoke to the arizona congressman and asked him what he would support a scaled down deal that the president pushed for on friday. >> yeah, i would. i think that's realistic. i think...
58
58
Dec 25, 2012
12/12
by
CNNW
tv
eye 58
favorite 0
quote 0
. >> the court says no getting around it, it does involve taxing the middle class. worst loss for antidrug forces, legalized marijuana is gaining ground. >> i hate marijuana, i loathe it, i think it's a really bad thing, but it's not up to me to tell people whether or not they can use it. >> and ultimately, the best thing for the democrats, mitt romney's persistent perplexing and positively crushing inability to keblconnect with voters. >> he went the into a hardware store, he came out, reporters asked what he got. he actually said -- >> hard ware stuff. >> i won't forget he reached down and shaked hands with a 6-year-old. the kid is 6, mitt. >> he didn't run a great campaign. he's not a charismatic person. i think a charismatic republican would have won. i don't think we had a great platform. i don't think we invited in hispanics the way we should have. it will change next time. maybe we'll get a better candidate. meantime, life goes on, and little by little, our problems will get solved. >> and come election night, at least one of barack obama's problems was solve
. >> the court says no getting around it, it does involve taxing the middle class. worst loss for antidrug forces, legalized marijuana is gaining ground. >> i hate marijuana, i loathe it, i think it's a really bad thing, but it's not up to me to tell people whether or not they can use it. >> and ultimately, the best thing for the democrats, mitt romney's persistent perplexing and positively crushing inability to keblconnect with voters. >> he went the into a hardware...
187
187
Dec 30, 2012
12/12
by
CNNW
tv
eye 187
favorite 0
quote 0
cut, increases in other taxes on families like the alternative minimum tax and the expiration of the payroll tax holiday, there's this to think of, for 2 million unemployed worker, the loss of unemployment benefits. we have asked experts to join us for a fiscal cliff roundtable discussion, if you will. ron brownstein is a senior -- cnn senior political analyst and editorial director of the national journal and stephen moore, senior economics writer at the "wall street journal" and is in washington, d.c. first up, ron, will, do you think, these politicians reach a deal or not and why or why not? >> the fiscal cliff was yeelted as a doomsday machine to try to give them more will power to do what they can't do on their own, to reach a deal. the reason all of this was here, incentive to reach a deal, some of your guests pointed out during the day, a lot can go wrong when you leave is it to this late, a little little surprising to me republicans don't feel urgency, talk about this in a minute, maybe, the wolf on the other side of the cliff, difficult for both sides, the country is worse f
cut, increases in other taxes on families like the alternative minimum tax and the expiration of the payroll tax holiday, there's this to think of, for 2 million unemployed worker, the loss of unemployment benefits. we have asked experts to join us for a fiscal cliff roundtable discussion, if you will. ron brownstein is a senior -- cnn senior political analyst and editorial director of the national journal and stephen moore, senior economics writer at the "wall street journal" and is...
178
178
Dec 31, 2012
12/12
by
CNNW
tv
eye 178
favorite 0
quote 0
tax code. that's just one of the thorny issues facing lawmakers' last ditch efforts to avoid going over the fiscal cliff, but there's this other thing happening, the debt ceiling. let's go to jean standing by in new york. i don't think she ever leaves the place. she's a senior writer for cnnmoney.com. the debt ceiling, $16.4 trillion. that's the united states' borrowing limit. that's actually the thing that got us into this ridiculous pickle in the first place. you remember that night in august of 2011 when we were battling about the debt ceiling. they couldn't make a deal and so they pushed it off to today, to tomorrow. we're going to hit the debt ceiling again tomorrow. the treasury can probably find $200 billion through what they call extraordinary measures which is sort of shifting things around a bit. but at some point in the next month, this is going to be a big problem. we're not really dealing with this, are we? >> oh, my god, no. we're not even coming close to it. we will basically hav
tax code. that's just one of the thorny issues facing lawmakers' last ditch efforts to avoid going over the fiscal cliff, but there's this other thing happening, the debt ceiling. let's go to jean standing by in new york. i don't think she ever leaves the place. she's a senior writer for cnnmoney.com. the debt ceiling, $16.4 trillion. that's the united states' borrowing limit. that's actually the thing that got us into this ridiculous pickle in the first place. you remember that night in august...